Writing a business plan is an essential part of building a successful business. At its core, a business plan is a road map for your project: it establishes your purpose, it sets goals and expectations, and it forecasts the relationship between cost and revenue. Business plans exist in many forms: some formal and some informal.
Ultimately you’re seeking to answer the same basic set of questions—either for yourself, your team or an outside investor. The following list of questions, which is adapted from The Wharton School Entrepreneurship Workshop “Business Plan Writing 101,” serves as a good starting point:
What is the business?
How does it work?
Who is the team?
What is the market?
Who are your competitors?
What is the market strategy?
What are the numbers?
What do you need?
Take a look at the video below as well as the guide & infographic for more insights 🙂